06 May, 2025
Reforming Taxation for NPOs: What Clause 337 Means for You Clause 337 of the Income Tax Bill, 2025 proposes a major shift in how “specified incomes” of Non-Profit Organisations (NPOs) are taxed. It modifies the existing Section 115BBI of the Income-tax Act, 1961 to streamline compliance, ensure transparency, and curb misuse. Let’s break it down […]
Read More06 May, 2025
Understanding Tax on Online Game Winnings Tax on online game winnings has evolved sharply under the digital economy. The Finance Bill, 2025 (Clause 194, S. No. 5) introduces key changes that replace Section 115BBJ of the Income-tax Act, 1961. This blog simplifies the shift and what it means for players and platforms. What the 1961 […]
Read More06 May, 2025
Introduction: The recent Income Tax crackdown on RUPPs (Registered Unrecognised Political Parties) has brought ₹1,400 crore back into the system. This action highlights serious misuse of political donation channels by shell donors and benami contributors. For taxpayers and consultants, this signals tighter compliance scrutiny ahead. What Are RUPPs and Why Is the I-T Dept Targeting […]
Read More06 May, 2025
GST on Online Gaming: Where the Supreme Court Stands Let’s break down what’s happening, what’s at stake, and what it means for taxpayers and businesses alike. Background: Why This Case Matters What the Supreme Court is Examining Key Legal References Provision Description Rule 31A GST on actionable claims like lottery, betting, gambling on total bet […]
Read More06 May, 2025
Punjab GST Collection April 2025: ₹2,654 Crore Record High Punjab’s GST collection for April 2025 hit an all-time high of ₹2,654 crore, marking a 19.77% increase compared to April 2024. Finance Minister Harpal Singh Cheema attributed this growth to enhanced compliance, crackdown on evasion, and proactive reforms by the state GST department. What Led to […]
Read More06 May, 2025
Online Gaming GST at 28%: What the Supreme Court Was Told Online gaming GST has once again taken centre stage in a legal and tax showdown. Why 28% GST Is Applied to Online Gaming The government’s stand is based on: Gameskraft vs Union of India: The Ongoing Case Key facts: Legal Standpoint: What Makes It […]
Read More05 May, 2025
CBDT has officially notified the revised Income Tax Return (ITR) forms from ITR-1 to ITR-5 for AY 2025–26, applicable for income earned during FY 2024–25. These forms were released via Notifications No. 40/2025 to 43/2025 dated between 29 April and 3 May 2025, amending Rule 12 of the Income-tax Rules, 1962. Let’s break down what’s […]
Read More05 May, 2025
Intro ParagraphBeneficial ownership in partnership capital can validate fund introduction even when legal documentation is incomplete. In a recent Income Tax Appellate Tribunal (ITAT) ruling, the focus shifted from strict procedural adherence to economic reality. This blog explains the case, its implications, and practical takeaways for Indian firms. Why This ITAT Ruling Matters The ITAT’s […]
Read More05 May, 2025
Weekly GST & Tax Communique – May 05, 2025 Keeping up with weekly GST updates and direct tax developments is crucial for every Indian taxpayer and consultant. Here’s a simplified roundup of key developments from April 29 to May 05, 2025—covering new notifications, case laws, and practical tax implications. CBIC Notifications & GST Clarifications 1. […]
Read More05 May, 2025
Transfer Pricing Disputes: Why Accurate Cost Allocation MattersIn a significant win for multinational companies operating in India, Integrated Global Services (IGS) successfully defended its inter-company service pricing before the Income Tax Appellate Tribunal (ITAT). The case revolved around transfer pricing—a method used by MNCs to price services, goods, or IPs exchanged between group entities across […]
Read More